Prime Minister Pham Minh Chinh: Continue to create conditions for private economic development

On the afternoon of November 1, at the Government Headquarters, Prime Minister Pham Minh Chinh, Head of the National Steering Committee for the implementation of Resolution No. 68-NQ/TW of the Politburo on private economic development, chaired the 2nd meeting of the Steering Committee.

Attending the conference were Deputy Prime Minister Ho Duc Phoc; Ministers, Heads of ministerial-level agencies, Government agencies; leaders of ministries, branches, central agencies; leaders of associations, corporations and enterprises.

Immediately after Resolution No. 68-NQ/TW was issued, the National Assembly, the Government, ministries, branches and localities promptly institutionalized and issued legal documents to put the resolution into practice. In particular, focusing on organizing the implementation of Resolution No. 138/NQ-CP dated May 16, 2025 and Resolution No. 139/NQ-CP dated May 17, 2025 of the Government on private economic development.

The conference assessed that after nearly 6 months of issuing the Resolution, there has been a very positive change, a significant change in the thinking and awareness of the whole society from the central to local levels, associations, people and the business community and business households themselves about private economic development. Up to now, 34/34 localities, 21 ministries, ministerial-level agencies, and government agencies have issued plans for private economic development.

The Government, ministries, branches and localities have stepped up the reduction and simplification of administrative procedures. It is expected that the total number of administrative procedures related to production and business activities will be reduced and simplified by more than 2,900 procedures, accounting for more than 60% of procedures; more than 2,200 business conditions will be reduced; the time to handle administrative procedures will be reduced by more than 13,000 days and the cost of complying with administrative procedures will be reduced by an estimated VND 34,000 billion/year.

The investment and business environment, institutional and policy improvements have been promoted. As a result, private enterprises have made remarkable progress. The number of newly established and re-established enterprises and business households has increased sharply. From May 2025, an average of more than 18,000 new enterprises were established each month, an increase of nearly 43% compared to the average of the first 4 months of 2025.

It is estimated that in the first 10 months of 2025, the whole country will have nearly 262,000 newly registered and re-operated enterprises, an increase of nearly 30% over the same period in 2024, with the total capital added to the economy estimated at more than 5.1 million billion VND, an increase of nearly 99% over the same period in 2024. Accumulated to the end of October 24, 2025, the whole country will have over 1 million enterprises operating in the economy.

Positive results in business production of enterprises have impacted the increase in state budget revenue. Accordingly, the estimated total state budget revenue in the first 9 months of 2025 reached more than 1.92 million billion VND, equal to nearly 98% of the annual estimate and increased by 30.5% over the same period last year. Of which, revenue from the private economic sector reached more than 338,000 billion VND, an increase of more than 121% and revenue from households and individuals doing business in the first 9 months of 2025 alone is estimated at more than 25,200 billion VND.

Concluding the meeting, reviewing the results achieved after the implementation of Resolution No. 68-NQ/TW, Prime Minister Pham Minh Chinh emphasized the need for ministries, branches, People's Committees of provinces and centrally run cities to concentrate highly, continue to lead, direct propaganda, and disseminate Resolution No. 68-NQ/TW more deeply; develop specific action programs, closely following Resolution No. 68-NQ/TW, resolutions of the National Assembly and the Government, deploy, and at the same time control the progress of task implementation so that each completed work is a specific product as desired.

To ensure resources for implementing the Resolution, the Prime Minister requested Ministers, Heads of ministerial-level agencies, Chairmen of People's Committees of provinces and cities to prioritize the allocation of adequate financial and human resources; the general spirit is to use public investment to lead private investment, and use State resources to activate all resources of people and businesses.

The Prime Minister requested the Ministry of Finance to study, arrange and ensure funding for the implementation of policies and programs to support enterprises and business households from the central budget; and prioritize the implementation of programs and projects as stipulated in the Government's Resolution.

Localities proactively arrange and integrate funding to support businesses and business households according to policies and initiatives stipulated in Resolution 68-NQ/TW of the Politburo and Resolution 198/2025/QH15 of the National Assembly.

Noting to encourage ordering and assigning tasks to private enterprises in large projects such as railways and social housing development, the Prime Minister directed the Ministry of Construction to promptly issue a Government Resolution to mobilize resources from enterprises in investing in social housing development to contribute to increasing supply and reducing costs. Urgently complete tasks and solutions with progress to be completed in 2025 according to Resolutions 138 and 139/NQ-CP of the Government.

The Ministry of Finance urgently completes the submission of the Decree on the pilot mechanism for developing a circular economy in November 2025, the Decree guiding the policy of supporting 2% interest rates for businesses borrowing capital to implement green and circular projects; the framework of Environmental - Social - Governance (ESG) standards through non-budgetary state financial funds; the Decree on the operation of the Small and Medium Enterprise Development Fund must be completed in December 2025; the Training Program for 10,000 CEOs and the Development Program for 1,000 typical pioneering enterprises; completes the National Single Window Investment Portal to attract foreign investment; selectively and conditionally attract foreign investment, coordinate with domestic and foreign enterprises, and enterprises participating in the global supply chain.

The Ministry of Agriculture and Environment urgently completes the land database, connects the National Data Center; issues regulations on management, operation and exploitation in December 2025; submits to the Prime Minister for promulgation a Decision guiding the identification of green and circular projects, and the application of the ESG standard framework in December 2025; coordinates with the National Assembly Committees to amend the National Assembly Resolution related to land, site clearance, land pricing, etc. to actively remove obstacles for businesses.

The State Bank urgently completes the Decree guiding the 2% interest rate policy for businesses borrowing capital to implement green and circular projects, applying the ESG standard framework through commercial banks. The Ministry of Justice urgently completes and submits to the Prime Minister the Inter-sectoral Legal Support Program for small and medium-sized enterprises, micro-enterprises, and business households in the spirit of "open institutions, smooth infrastructure, and smart governance".

The Ministry of Industry and Trade urgently completes and submits to the Prime Minister the Program to support enterprises in reaching out to the international market, to be completed this November; urgently completes the amendment and supplementation of Decree 75 of the Government regulating administrative sanctions for violations in the field of competition and Decree 32 on management and development of industrial clusters; supplements mechanisms and policies for high-tech enterprises, small and medium-sized enterprises, and innovative startups to rent land in industrial clusters...

The Ministry of Culture, Sports and Tourism submits to the Prime Minister a Project to build ethical standards for business culture associated with national identity, accessing the quintessence of world business culture; urgently submits to the Politburo a Project to revive culture to develop the cultural and entertainment industry, attracting private resources to this field.

Emphasizing that programs and plans need to be built according to the principle of "6 clear: clear people, clear work, clear responsibility, clear authority, clear time, clear results," and allocating resources for implementation, the Prime Minister pointed out that for the laws and resolutions of the National Assembly that were issued in the 9th Session, ministries and branches must urgently complete the guidelines, especially those related to private enterprise development in the general spirit of resolving problems in the spirit of harmonious benefits and shared risks.

Regarding the implementation plan in 2026, the Prime Minister requested that the Ministry of Finance take the lead in reviewing the progress of tasks with deadlines for completion in 2026 in Resolutions 138 and 139/NQ-CP; supplement the impact assessment of Resolution No. 68-NQ/TW on each task, paying attention to clarifying the impact of each task on each beneficiary such as large enterprises, small and medium enterprises, micro enterprises, and business households; creating conditions for large enterprises to develop.

Reminding the implementation of the system to monitor and evaluate the implementation of Resolution No. 68-NQ/TW, the Prime Minister welcomed the efforts of the Ministry of Finance and the Private Economic Development Research Board (Board IV) in building the system, and requested the Ministry of Finance to absorb the comments of the Steering Committee, complete it and put it into use immediately. The Ministry of Finance and ministries, branches and localities monitor and use the above system in the direction and operation work, activelyThe Committee discovered and proposed to the Prime Minister the work contents that need to be carried out to improve the effectiveness of implementing Resolution No. 68-NQ/TW.

Committee IV continues to coordinate with the Ministry of Finance to integrate monitoring and evaluation indicators, determine the level of openness of Vietnam's business environment into the monitoring and evaluation system; provide perspectives and assessments of enterprises, ensuring independence and objectivity. The Ministry of Finance researches and uses artificial intelligence (AI), integrates additional indicators for analysis and forecasting, and better serves the management and direction of the implementation of Resolution 68.

For the Vietnam Federation of Commerce and Industry (VCCI), the Vietnam Association of Small and Medium Enterprises, Committee IV effectively promotes the role of supporting enterprises, doing a good job of consulting and commenting; perfecting the system of documents related to business activities; playing a good role as a bridge and voice to build a united and strong business community, for a strong and prosperous Vietnam; proactively collecting information reflecting recommendations from enterprises and business households on Resolution No. 68-NQ/TW to advise the Government on timely and appropriate adjustments; in the new situation, it is necessary to take advantage of external resources and diversify the market.

Enterprises need to continue researching and placing orders in priority areas such as science and technology, digital transformation, innovation, strategic infrastructure development including railways, nuclear power plants, airport and port infrastructure; developing healthcare and education services; and improving domestic skills and expertise.

Proposing that enterprises, business associations, and VCCI gather the difficulties of the business community to propose to the Government to resolve, the Prime Minister emphasized that achieving the two 100-year goals is extremely difficult in the current difficult and challenging world context, so the Government, business community, and people must work together to rise up, develop quickly and sustainably.

He said that currently, the demand for spending on people, national defense and security, and social security is very large. To do so, there must be growth, harmonizing economic growth with environmental protection, ensuring social security, and not leaving anyone behind. The Prime Minister asked corporations to join hands to do a good job of social security, focusing on investing to eliminate areas with telecommunications and electricity signal depressions.

Calling for joint efforts, unanimity, solidarity, effective cooperation, listening, sharing, working together, enjoying joy and happiness, the Prime Minister suggested that when businesses encounter difficulties, they should promptly make recommendations to the Government; requesting Committee IV to build a database on businesses; state agencies need to listen and be receptive to businesses' sharing./.